"The global economy is still recovering. But the target is still feasible," Darmin told reporters on Monday.

"We need to work harder. We are committed to achieve the target," Darmin added.

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In its latest World Economic Outlook, IMF revised down its global economic growth forecast in 2019 to 3.5 percent. It also warned the risks to more significant downward corrections are rising.

"Economic activity in emerging and developing economies is also projected to tick down to 4.5 percent in 2019, with a rebound to 4.9 percent in 2020," the agency said in a written statement on Monday.

"The outlook for emerging markets and developing economies reflects the continued headwinds from weaker capital flows following higher US policy rates and exchange rate depreciations, even though they have become less extreme," it stated.